Indian rupee strengthened by four paise to 61.68 against the US dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst sustained foreign capital inflows.
Forex dealers said apart from increased selling of the American currency by exporters and banks, the dollar’s weakness against some currencies overseas, supported the rupee.
A higher opening in the domestic equity market, which soared to new highs, too supported the rupee, they added.
The rupee had strengthened by 18 paise to end at 61.76 against the Greenback on Friday on suspected selling of the US dollar by state-run banks on behalf of the RBI and a strong rally in local stocks.
Meanwhile, the benchmark BSE Sensex spurted by 180.35 points, or 0.63 per cent, to hit another record-high of 28,514.98 points in opening trade today.